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Crude oil futures fell by 1.63% to Rs 2,900 per barrel today as speculators trimmed positions amidst a weak trend in Asian markets.
At the Multi Commodity Exchange, crude oil for delivery in April was trading down by Rs 48, or 1.63%, to Rs 2,900 per barrel in 5,224 lots.
The oil for delivery in May fell by Rs 41, or 1.33%, to Rs 3,039 per barrel in a volume of 180 lots.
The trading sentiment weakened in futures trade following fall in crude oil prices in Asian markets after Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude oil for May delivery was down by 65 cents to $45.92 while Brent tumbled 58 cents to $54.74 per barrel on New York Mercantile Exchange.
